Discuss the different strategies to manage products and services throughout the product life cycle with particular reference to mature products and deletion decisions.
It has been a well-established idea for many years that most of products follow a life cycle like living organisms passing through a cycle from born to death, but product life cycle itself is not unmanageable, and it depends on market actions very much. Appropriate management and strategic options can alter the shape and duration of a brand's life, which can result in the increase of current rate of sales.
The theory breaks the economic life of a product into a number of stages (four or five being most common) that is from introduction stage, growth, and maturity to decline s…
- Discuss the different strategies to manage products and services throughout the product life cycle with particular reference to mature products and deletion decisions.
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